Wednesday, September 24, 2008

Against the US dollar, the Icelandic krona traded lower during early deals on Wednesday. At about 5:25 am ET, the krona declined to a 5-day low of 95.26 per dollar, compared to 94.67 hit late New York Tuesday. If the krona drops further, 95.7 is seen as the next target level.

A report released by the Statistics Iceland showed that CPI rose 14 % on year in September compared to 14.5% rise in August.

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